1:35 PM · 18 February 2022

BREAKING: CAD weakens slightly after retail sales data from Canada

Canada retail sales data for December was released at 1:30 pm GMT. Report turned out to be mixed and caused some moves on the USDCAD pair. Highlights of the report:

• Headline: -1.8.% MoM vs -2.1% MoM expected (0.7% MoM previous)

• Ex-autos: -2.5% MoM vs -2.0% MoM expected (1.1% MoM previous)

USDCAD pair rose slightly and is testing 200 SMA (red line) and the lower limit of the triangle formation. Should break higher occur, resistance at 1.2730 may be at risk. Source:xStation5

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